course for more information. For these types of setups you may elect to use the trade entry trick to play the trade more conservatively by waiting for an optimal entry. Note in the first chart, if you had entered at market with a normal (impatient) entry, youd definitely have gotten stopped out for a loss if you had your stop just below the pin bar low. The trade entry trick in action. There are essentially three very significant ways that this trade entry trick can significantly improve your trading results: 1 by waiting for a better entry, it allows you to get a tighter stop loss on a trade which in turn allows you to potentially make. When you have a strong view on a particular price action trade setup and you would like to get the best entry possible so that you can increase the potential profit on a trade, the trade entry trick is your most potent weapon. This is called pin-point accuracy sniper-trading and its the most powerful way to trade the market in my opinion. Note that this was not exactly the best pin bar signal because it was a bit small and its tail didnt really protrude out from the surrounding price action. I mean this one of great forex tool is profit lock expert advisor. FX Trading Revolution will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information. Tighter stops should only be used on setups you feel very confident about and ideally after youve gained some solid screen time and trading experience. Any opinions, news, research, predictions, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice.
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In the daily spot Gold chart below, we can see an obvious fakey with pin bar combo setup formed on October 15th. In the chart below, we can see by waiting for an entry near the 50 retrace level of the pin bar and keeping our stop distance the same, we actually avoided the losing trade and turned it into a nice 2R winner: Heres another example. If you enter when the market is extended, which is usually when most traders feel good about entering since the market looks safe, its at this point that the market has a higher-probability of retracing and stopping you out for a loss because you didnt. My trading strategies are powerful, but you still need to know how to use them why is gold not moving forex and how to manage your stops and targets. Using the trade entry trick to avoid getting stopped out prematurely. Its a tool to add to your trading toolbox, and a very effective one at that. About Nial Fuller Nial Fuller is a Professional Trader Author who is considered The Authority on Price Action Trading. By waiting for a more conservative entry (a better entry we are being less aggressive because we are being more patient and using more discipline in waiting for an optimal entry.
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